The stock is trying to reverse from the support region and looks good positionally above 52.5 level for target of 55 and 59.5 respectively. Learn & earn, Dr. Tanya Kumar
After breaking the trendline, retest is also done. Can buy a CMP for easy tgt of Rs 60 in few days
NSE:MOREPENLAB MOREPENLAB CMP:52.65 Buying zone: 45-55 Add Till: 35 SL: 24 Expected Targets: 65/72/82/105/120/175/200 Expecting high ROI in this one ! Can be a multi-bagger candidate for 2022
MOREPENLAB : LONG VIEW 1) POLE & FLAG PATTERN 2) Just above SMA 50 3) Just above Linear Regression channel lower channel CMP: 52.65 BREAKOUT POINT : 56/57 TARGET: 62/65/70+ SL: 50 * For educational purpose only
Price respected the 4 month Trend line Now Break this line with Descending triangle which constantly multiple time tested Now at retest area, after confirming retest buy at 50-52 & target with 60 & SL Billow 46.70
Taking out the recent high of the box can give the following green targets.
Morepen lab with good quarterly result, making triangle pattern in weekly chart. wait for breakout and retest on red line.
Morepenlab At support level .... chance to pullback this level...
T- 65/90 Sl- 56 chart is self-explanatory, check it out.
Morepen Lab perfectly moving in channel by taking support at lower trendline. It's a BUY for short term with Target of Rs. 65 with SL of Rs. 53. NSE:MOREPENLAB
Buy according to your risk with stoploss of (46.85) for given targets. Also analysis on your own. Happy Trading !
A breakout of the Inverse H&S pattern has occurred with good volumes. Can be bought for a target of 65-66. CMP-59.5. Target is calculated using the height of the head. SL will be 55 on a closing basis. A good 14-15% swing opportunity. HIT the like button if you liked my analysis and do FOLLOW for more ideas.
All trade ideas provided are the opinions of the publisher and should not in any way be considered as financial advice. Please do your own research and consult your advisor before investing in stock markets.
Technical: 1)Breakout from Stage I - Consolidation zone after 19 years with good Volumes. 2)Breakout Retest with Volume dry-up. 3)Reversing from 61.80% Fibonacci Retracement. Fundamental: 1)Posting good Quarterly as well as YoY results. 2)Substantial increase in ROCE. 3)Reduced its Debt and approaching Debt free. 4)Positive Cash Flow. Excellent Stock to look forward to!!
above 57.65 target 69 - 82 -92 support at 53.55 - 46.45 - 39.7
Morepen Laboratories Limited - Trendline breakout & Retested StopLoss below the trendline Target 1 @ 72 Target 2 @ 98
MOREPENLAB now in breakout point...once its break free fall will expect...else its break 57 rally will start
As you can see in this chart History price pattern repeating itself. But little bit changes in structure size. That's why we have to analize charts in different Time Frame. So that we can use as structure-trade It is for only education purpose. If you like this Follow & Like to get updates. Do Self technical analysis before investing.